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economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that means. >> exports in november, down 94.1 billion is where we essentially went. 98.4 billion was the october numbers. so exports in november driving down. and that gdp number is worth pulling out. exports for the year, up 4.1%. as far as production is concerned, it was up 2% in november. but the forecast were for it to rise up 1%. it was a very weak october, as well. it was this production and that production number. when that came out, it essentially made people put a pretty fourth quarter in the whole, kelly. what we're trying to do is de
economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that...
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i want to see our economy recover. i would like to see this -- stronger labor markets, fiscal policy address the issues that i mentioned. there are a lot of difficult issues out there. i do think things are moving, not as fast as we would like, but in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause]as i mentioned, i am sure that there are a great many questions that have already been shared with our presenters. let me turn the floor to them. quick thank you for your comments chairman bernanke. i am a masters student. the first question is this -- if treasury minted a trillion dollar platinum coin, with the fed have except did it -- accepted it? >> i am not going to give that any oxygen. as you probably know, the treasury and federal reserve -- the treasury issued a statement that we did not think this was the right way to deal with this problem. there are legal issues and policy issues. the right way to deal with this problem, as i said earlier, is for congress to
i want to see our economy recover. i would like to see this -- stronger labor markets, fiscal policy address the issues that i mentioned. there are a lot of difficult issues out there. i do think things are moving, not as fast as we would like, but in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause]as i mentioned, i am sure that there are a great many questions that have already been shared with our presenters. let me turn the floor...
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economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big
economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below...
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the economy is contracting -- few feel like celebrating. the economy is contracting. the unemployment rate is higher than before ben ali's ousting. >> it is one of the largest religious gatherings in the world. millions of indians have bates together in the ganges to mark the start of the -- have bathed together in the ganges to mark the start of the maha kumbh mela religious festival. >> environmentalists have warned before that the ganges is heavily polluted. some 110 million people are expected to take part in the religious festival, which runs until mid-march. that is all for now. remember, you can find out more about these and other stories at our website, www.dw.de. >> thank you for watching. see you next time. captioned by the national captioning institute --www.ncicap.org--
the economy is contracting -- few feel like celebrating. the economy is contracting. the unemployment rate is higher than before ben ali's ousting. >> it is one of the largest religious gatherings in the world. millions of indians have bates together in the ganges to mark the start of the -- have bathed together in the ganges to mark the start of the maha kumbh mela religious festival. >> environmentalists have warned before that the ganges is heavily polluted. some 110 million...
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a lot of the conditions in the economy are slow. it spending is to the really that great. so i don't know if the estimates are that achievable. i also think that yeah, better risk/reward in other sectors in the market. we're trying to advise our clients how to outperform the s&p. i think there is better opportuniy. within tech there are some things we like where recommending suck stocks for example. i think that is one economically sensitive area that the stocks haven't participated that much in the rally. >> susie: let's talk about the areas that have been telling your clients, morgan stanley clients which direction to go. you have three big themes for your clients. buy stocks with from american companies with exposure to china, positive on china. buy dividend paying stocks and you like very large stocks, what you call megastocks. why are these the themes for you? >> well, look, for china i think we identified late last fall that the u.s. companies with china exposure had really lagged the broader market and had gotten quite cheap. and the china economy started to stabili
a lot of the conditions in the economy are slow. it spending is to the really that great. so i don't know if the estimates are that achievable. i also think that yeah, better risk/reward in other sectors in the market. we're trying to advise our clients how to outperform the s&p. i think there is better opportuniy. within tech there are some things we like where recommending suck stocks for example. i think that is one economically sensitive area that the stocks haven't participated that...
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the economy according to ben bernanke - what the fed chair has to say about the state of the country's finances. and, how automakers are setting a new pace for competition. plus, traders who are sweet and sour on apple. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. i'm angela miles. it's tuesday, january 15th. in today's first look: as facebook makes its big reveal on its new product today, shares briefly climbed above $32 yesterday. bloomberg news reports dell is in talks to end its trading days and go private. federal regulators order jp morgan chase to improve its risk management after losing billions in trading last year. and american airlines bond holders meet today to weigh in on whether the airline should merge with u.s. airways. ira epstein of the linn group joins us now. always a pleasure to have you on the show. what is going on with the market? it is so resilient. where is all this money coming from ira? > > think about it: 2012, the end of the year, we didn't know where we were in taxes, peop
the economy according to ben bernanke - what the fed chair has to say about the state of the country's finances. and, how automakers are setting a new pace for competition. plus, traders who are sweet and sour on apple. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. i'm angela miles. it's tuesday, january 15th. in today's first look: as facebook makes its big reveal on its new product today, shares briefly climbed...
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you know, the economy, you know, two steps forward, one step back, and corporate america can't carry the water. it will be difficult for the market, and priced pretty much to perfection at the current level with popular averages, not leaving room for disappointment. liz: hate one step forward, two back -- >> no, the other way. liz: either way, not moving fast. is that at a decent clip? >> actually, that's something we talked about last week on the show, and what we're looking at, again, south africa, right now, the mining situation is getting worse and worse, and -- liz: labor issues? >> the strikes, strikes, labor issues, and a threat that some of the major companies are shutting down the mines until they resolve this. we'll have a shortage in these areas, and, also, seeing platinum taking a bit of a piggy back ride up. it's at the 1680s mirroring where gold is now. silver is joining along for the ride. we're seeing a lot happening with the precious metals. liz: platinum is higher than gold for the first time in ten months. do you care? is that significant? it's 1682 against 1680, t
you know, the economy, you know, two steps forward, one step back, and corporate america can't carry the water. it will be difficult for the market, and priced pretty much to perfection at the current level with popular averages, not leaving room for disappointment. liz: hate one step forward, two back -- >> no, the other way. liz: either way, not moving fast. is that at a decent clip? >> actually, that's something we talked about last week on the show, and what we're looking at,...
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economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so to even entertain the idea of this happening -- of the united states of america not paying its bills -- is irresponsible. it's absurd. as the speaker said two years ago, it would be -- and i'm quoting speaker boehner now -- "a financial disaster, not only for us, but for the worldwide economy." so we've got to pay our bills. and republicans in congress have two choices here: they can act responsibly, and pay america's bills, or they can act irresponsibly, and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly, because time is running short. the last time republicans in congress even flirted with this idea
economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so to even entertain the idea of this happening -- of the united states of america not paying its bills -- is irresponsible. it's absurd. as the speaker said two years ago, it would be -- and i'm quoting speaker boehner now -- "a financial disaster, not only for us, but for the worldwide economy." so we've got to pay our bills. and republicans in congress have two...
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economy. all of this in then you have the energy boom in the whole shale thing helping in that industry and related industries. there are a lot of bright spots in the u.s. you know, the guys in washington do not mock it up, we have a good shot. melissa: we have breaking news right now. i want to point you to the shares of facebook. down $0.60. that is good for almost 2%. we have this meeting going on right now. it is a major reversal for the stock. we are trying to get more details out of this meeting. we will have rob enderle on at the end to talk about it. shibani: i am following a couple of live logs on the event. the three pillars of facebook. when he unveiled today is his 23 pillar which is being called graph search. it is a graphical search. it is not a web search. that is one of the reasons we are seeing a selloff of facebook shares. again, what the company has unveiled at this moment is a surge in addition facebook. we will bring you more headlines as they come out. melissa: it is inte
economy. all of this in then you have the energy boom in the whole shale thing helping in that industry and related industries. there are a lot of bright spots in the u.s. you know, the guys in washington do not mock it up, we have a good shot. melissa: we have breaking news right now. i want to point you to the shares of facebook. down $0.60. that is good for almost 2%. we have this meeting going on right now. it is a major reversal for the stock. we are trying to get more details out of this...
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economy is on good footing. any messages for washington as we approach another debt ceiling increase potentially, dan akerson of gm said don't screw up the economy holding it hose -- hose hostage, do you share that? >> uncertainty has to be removed as quickly as possible. it is not a good environment for consumer confidence to be built, so we're looking for resolution on debt ceiling, resolution on spending plans so that consumers can focus on really going about their business in a normal way. >> wants to build cars, not make policy. there you go. it's a good one. i owned ford explorers for 20 straight years. this is a real competitor to that vehicle. dennis: jeff flock, good job. thanks, den. cheryl: time for the west coast minute, a double digit return for the public employees pension system. it had a 2% return back in 2012. the nation's largest pension has investments worth $252 billion, almost back to its peak level of 2007 when the fund held $260 billion in assets. the fund's performance was just below its
economy is on good footing. any messages for washington as we approach another debt ceiling increase potentially, dan akerson of gm said don't screw up the economy holding it hose -- hose hostage, do you share that? >> uncertainty has to be removed as quickly as possible. it is not a good environment for consumer confidence to be built, so we're looking for resolution on debt ceiling, resolution on spending plans so that consumers can focus on really going about their business in a normal...
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we need to diversify our local economy in virginia. i hope we can work with both of our senators to get this done. host: we are talking with representative scott rigell. this is a headline in "the washington post." she talks about a new freshman class of republicans and your class as well that had been a headache for the speaker. there will be a test on tuesday. where do you come down on this? guest: i think we have been good for the speaker. i am not dodging the questione. everybody needs to shoot straight. i do not know how i will vote on the particular bill. it has only come out in the last day or so. we have not anticipated and planned for these type of natural disasters. you would think we would have budgeted enough. either we're not done a good estimates or we are spending far more than we should. i will be evaluating that. i know there will be some amendments. there are some things that i don't think most americans would not funded. therein lies the challenge. every bill we vote on on typically has some things that are good and
we need to diversify our local economy in virginia. i hope we can work with both of our senators to get this done. host: we are talking with representative scott rigell. this is a headline in "the washington post." she talks about a new freshman class of republicans and your class as well that had been a headache for the speaker. there will be a test on tuesday. where do you come down on this? guest: i think we have been good for the speaker. i am not dodging the questione. everybody...
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even the threat of default hurts our economy. it's hurting our economy as we speak. we shouldn't be having that debate. if we want to have a conversation about how to reduce our deficit, let's have that. we've been having that for the last two years. we just had an entire campaign about it. and by the way, the american people agreed with me that we should reduce our deficits in a balanced way that also takes into account the need for us to grow this economy and put people back to work. and despite that conversation, and despite the election results, the position that's been taken on the part of some house republicans is that, "no, we've got to do it our way, and if we don't, we simply won't pay america's bills." well, that can't be a position that is sustainable over time. it's not one that's good for the economy now. bes certainly not going to the kind of precedent that i want to establish not just for my presidency, but for future presidents, even if it was on the other side. democrats don't like voting for the debt ceiling when a republican is president, and yet y
even the threat of default hurts our economy. it's hurting our economy as we speak. we shouldn't be having that debate. if we want to have a conversation about how to reduce our deficit, let's have that. we've been having that for the last two years. we just had an entire campaign about it. and by the way, the american people agreed with me that we should reduce our deficits in a balanced way that also takes into account the need for us to grow this economy and put people back to work. and...
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but the american economy suffers from that kind of situation. so those are some of the handicaps and some of the things that contribute to the culture that, i think, is not receptive right now to innovation and those sorts of things, and i'm sure i'll get to talk about that later and turn it on over to you. >> okay. bobby, you have developed shopping mauls across the country including the city creek center in salt lake city. what has been your experience with government? >> complicated. phil talks about the culture of government really is, i mean, if it's not broken, it's certainly misguided. you know, for a company to be successful, you absolutely have to have a strong culture. and i think we've sort of argued at times what the purpose of government is. and it's really trying to sort of understand what that purpose is that the constituents are always pulling themselves apart at. because the agenda moves so much as you talk through a process. i mean, you mentioned dodd-frank. you mentioned sarbanes-oxley. or sarbanes-oxley which is, you know, do
but the american economy suffers from that kind of situation. so those are some of the handicaps and some of the things that contribute to the culture that, i think, is not receptive right now to innovation and those sorts of things, and i'm sure i'll get to talk about that later and turn it on over to you. >> okay. bobby, you have developed shopping mauls across the country including the city creek center in salt lake city. what has been your experience with government? >>...
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what does that mean for our economy? senator rob portman says he's got an idea and alternative. that senator up next. here he comes. >>gretchen: welcome back. how big of a threat is our national debt? one theme from the hbo film "too big to fail" spells out the risks pretty clearly. watch it. >> the threats from russia, they suggest we coordinate and without warning dump hundreds of billions of if fannie's and freddie's bonds on to the market. the amount of debt your country carries is a terrible vulnerability. >>gretchen: a terrible vulnerability. senator rob portman couldn't agree more. he's a member of the senate finance committee and former budget director for george w. bush. good morning to you, senator. when we hear this vulnerability, you agree with that; right? >> absolutely. the president yesterday said we need to raise the debt limit because we have to pay our bills. we're at historic levels, $130,000 per family right now, over $16.5 trillion. yes, we need to raise the debt limit at some point but we have to do it in the context of getting the spending under control. t
what does that mean for our economy? senator rob portman says he's got an idea and alternative. that senator up next. here he comes. >>gretchen: welcome back. how big of a threat is our national debt? one theme from the hbo film "too big to fail" spells out the risks pretty clearly. watch it. >> the threats from russia, they suggest we coordinate and without warning dump hundreds of billions of if fannie's and freddie's bonds on to the market. the amount of debt your...